"… When it is evening, ye say, It will be fair weather: for the sky is red. And in the morning, It will be foul weather to-day: for the sky is red and lowering. O ye hypocrites, ye can discern the face of the sky; but can ye not discern the signs of the times?" The Holy Bible
"Many a so-called wise economist ... had not studied past history enough to know that after the greatest advance in history had culminated … the greatest panic in history must follow ... " W. D. Gann

Thursday, June 23, 2016

Thursday roundup (06-23-2016)

Here's Just How Bad the Global Economy's Debt Problem Is: Global debt is skyrocketing, but what has all this money done for the global economy? (TheStreet)

Early votes give huge boost to Brexit chances [-- This is a live link and the headline will no doubt change as more votes are counted] (The Telegraph) Why Brexit Could Be Just the Beginning for an Angry Europe (Time)China says debt won't pose systemic risk if [!] economic growth reasonable (Reuters)

[In the United States,] Social Security trust fund projected to run dry by 2034 (CNNMoney)

About 70% of voters say Trump should cut business ties while running for president (CNN)

Will Bernie Sanders Voters Support Hillary Clinton?: Plenty of those who backed the Vermont senator still don’t feel warmly toward the presumptive Democratic nominee. (The Atlantic)Deutsche Bank to shut 188 German branches and cut 3000 staff (Reuters)Zimbabwe’s Hwange Coal Mine to Cut 1,500 Jobs, Minister Says (Bloomberg) The aim of this blog is to show (mostly from reports in mainstream respected news sources) that there is reason to believe that both the United States and the global economies remain fragile in the wake of the financial crisis of 2008 and that a number of threats exist today that could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. Key threats include excessive risk-taking by financial firms, unchecked by effective regulation; the continued existence of "too big to fail" institutions; and most especially, the amassing of levels of public and private debt which could become unsustainable.